US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

Jefferson Capital / Equity Capital Markets

<ul>
<li>Jefferson Capital priced a full-size deal of 10.0mm shares at $15.00 (low-end of the range) and opened at $19.00 for a gain of 26.7% at open. </li>
<li>The IPO was marketed at just 5x 2026 earnings projections, which is extraordinarily cheap to current public competitors.</li>
<li>We feel that the "interest" in this IPO may tail off and the stock's price will be performance driven based upon subsequent earnings reports.</li>
</ul>


Jefferson Capital priced a full-size deal of 10.0mm shares at $15.00 (low-end of the range) and opened at $19.00 for a gain of 26.7% at open. 
The IPO was marketed at just 5x 2026 earnings projections, which is extraordinarily cheap to current public competitors.
We feel that the "interest" in this IPO may tail off and the stock's price will be performance driven based upon subsequent earnings reports.


Jefferson Capital Inc (JCAP): Value Investors Bid Up Insolvency Account Manager IPO

<ul>
<li>For the three months ended March 31, 2025, they had net income of $64.2 million, compared to $32.9 million for the three months ended March 31, 2024.</li>
<li>The company is coming at an attractive valuation but our sources say traditional IPO investors "may" be staying on the sidelines for this deal. </li>
<li>This company is private equity backed by J.C. Flowers &amp; Co and they will own 68.9% of the voting power following this IPO.</li>
</ul>


For the three months ended March 31, 2025, they had net income of $64.2 million, compared to $32.9 million for the three months ended March 31, 2024.
The company is coming at an attractive valuation but our sources say traditional IPO investors "may" be staying on the sidelines for this deal. 
This company is private equity backed by J.C. Flowers &amp; Co and they will own 68.9% of the voting power following this IPO.


Jefferson Capital Inc (JCAP):Valuation Attractive, Sector-Dedicated Investors to Dominate the Book

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

<ul><li>Debt buyers like ECPG can accelerate growth during times of increased charge offs by credit card issuers</li><li>Growth is impacted by tough collections environment with an abundance of cheap charged off paper</li><li>Investors must consider buying these stocks when growth prospects are high and expectations have factored in collection challenges, as industry may soon enter a favorable cycle for debt buyers</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Debt buyers like ECPG can accelerate growth during times of increased charge offs by credit card issuersGrowth is impacted by tough collections environment with an abundance of cheap charged off paperInvestors must consider buying these stocks when growth prospects are high and expectations have factored in collection challenges, as industry may soon enter a favorable cycle for debt buyersThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Encore Capital Group Inc (ECPG) - Wednesday, Dec 20, 2023

United States

Encore Capital Group, Inc. is involved in consumer debt buying and recovery. The company purchases portfolios of defaulted consumer receivables from banks, credit unions, and utility providers and partners with individuals as they repay their obligations and work toward financial recovery.

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Encore Capital Group (ECPG US)

Jefferson Capital Inc (JCAP): Value Investors Bid Up Insolvency Account Manager IPO

Jefferson Capital's IPO priced low but opened strong, with potential for performance-driven price movement based on future earnings reports.

IPO Boutique

Jefferson Capital Inc (JCAP):Valuation Attractive, Sector-Dedicated Investors to Dominate the Book

Private equity backed company reports strong net income of $64.2 million for Q1 2025, but traditional IPO investors may be cautious.

IPO Boutique

Encore Capital Group Inc (ECPG) - Wednesday, Dec 20, 2023

Debt buyers like ECPG can accelerate growth during times of increased charge offs by credit card issuers. Growth is impacted by tough collections...

Value Investors Club (VIC)

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Jefferson Capital Inc (JCAP): Value Investors Bid Up Insolvency Account Manager IPO

​Jefferson Capital's IPO priced low but opened strong, with potential for performance-driven price movement based on future earnings reports.

IPO Boutique

Jefferson Capital Inc (JCAP):Valuation Attractive, Sector-Dedicated Investors to Dominate the Book

​Private equity backed company reports strong net income of $64.2 million for Q1 2025, but traditional IPO investors may be cautious.

IPO Boutique

Encore Capital Group Inc (ECPG) - Wednesday, Dec 20, 2023

Debt buyers like ECPG can accelerate growth during times of increased charge offs by credit card issuers. Growth is impacted by tough collections...

Value Investors Club (VIC)

Jefferson Capital's IPO priced low but opened strong, with potential for performance-driven price movement based on future earnings reports.

Private equity backed company reports strong net income of $64.2 million for Q1 2025, but traditional IPO investors may be cautious.